ON (NYSE:ONON) Given “Outperform” Rating at Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $67.00 target price on the stock. Telsey Advisory Group’s price target suggests a potential upside of 61.23% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Williams Trading upped their price target on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays upped their price objective on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Bank of America initiated coverage on shares of ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. Finally, KeyCorp restated an “overweight” rating and set a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ON has an average rating of “Moderate Buy” and an average price target of $61.09.

ON Price Performance

Shares of ONON stock traded down $2.36 on Tuesday, hitting $41.56. The company’s stock had a trading volume of 1,067,848 shares, compared to its average volume of 4,363,351. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of 96.81, a P/E/G ratio of 1.02 and a beta of 2.35. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The firm’s fifty day moving average price is $51.85 and its 200-day moving average price is $52.68.

Hedge Funds Weigh In On ON

A number of hedge funds have recently made changes to their positions in the business. Apollon Wealth Management LLC increased its stake in ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC raised its holdings in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after buying an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in ON in the 4th quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd grew its position in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after acquiring an additional 71,436 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.